- The pair has recovered sharply towards 1.3100 after Andrea Leadsom pulled out of the Conservative party leadership. Mrs May is expected to be new PM as soon as at Wednesday evening.
- GBP/USD has broken major intraday resistance 1.3110 (200 HMA) and jumped till 1.3139 at the time of writing. It is currently trading around 1.31367.
- On the lower side major support is around 1.2970 (hourly Kijun-Sen) and any violation below targets 1.29225/1.2850 level. The minor support is around 1.3450/1.3000.
- Technically resistance is around 1.3110 and break above targets 1.3500/1.3980.
It is good to buy at dips around 1.3110 with SL around 1.3000 for the TP of 1.3500/1.3980
